The Straits Times-Oct 21

The recommendations last week by the National Wages Council (NWC) to employers on temporary wage cuts to protect jobs, and to be responsible and sensitive if retrenching staff, point to the difficult times ahead which companies need to navigate carefully. The council said that the amount of the cuts should depend on a sector’s and a company’s outlook, and that employees should be told how the wages will be restored eventually. Also, employers should use the annual and monthly variable components to adjust wages. They should cut basic pay only if it is really necessary to avoid retrenchments. These recommendations go beyond the NWC’s earlier emphasis on reducing non-wage costs first.

Read more at: https://www.straitstimes.com/opinion/st-editorial/painful-decisions-amid-difficult-times